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x SignedApproval – Tips for success
Chargeback management is an important but delicate task. It can have a significant impact — either good or bad — on your organization’s bottom line.
With the right techniques, your team can decrease risks and increase revenue with minimal costs. But with the wrong techniques, you could generate negative ROI and jeopardize the business’s reputation.
Here’s how to create the most efficient strategy for managing chargebacks with your in-house team and achieve the best results possible.
- Build Your Team
- Create Your Strategy
- Execute Your Strategy
- Evaluate & Enhance Outcomes
Your team is the foundation of your chargeback management strategy. Hard-working, dedicated employees will be the ones driving efficiency. Consider these tips as you build and maintain your team.
- Hire employees who have the skills and characteristics needed to optimize efficiency. Look for team members who will be:
- DEPENDABLE – Chargeback management timelines are tight. You want to have reliable, productive team members who will be there when you need them.
- ADAPTIVE – Chargeback management techniques should regularly be updated so that results are always improving. Employees need to be willing to adjust workflows as the team’s strategy evolves.
- SELF-MOTIVATED – Chargeback activity ebbs and flows, and an employee’s workload may fluctuate from day to day. Team members need to be able to keep themselves occupied when responsibilities are light.
- ASSERTIVE – Chargeback management should be a collaborative effort. Look for employees who value teamwork and are willing to speak up when they have identified a problem or want to offer a suggestion.
- ANALYTICAL – Data analysis is an important part of chargeback management. Team members need to be willing to dig into the data, establish trends, detect anomalies, and monitor outcomes.
- DETAIL ORIENTED – Chargeback management involves a lot of important tasks that need to be completed accurately and on time. If a single step is missed, your results will suffer. Employees need to stay focused and be attentive to details.
- Recognize that your “team” extends beyond the employees who are actively managing chargebacks. It also involves people indirectly associated with payment disputes such as customer support and order fulfillment. Build relationships with other departments and work together to minimize the risk of disputes.
- Your chargeback management strategy needs to jive with the broader corporate strategy, so you’ll need top-level buy-in. Executives won’t be involved in the day-to-day operations, but they should be valuable team members when it comes to clearly defining expectations and key performance indicators (KPIs).
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x SignedApproval™ Instant chargeback fraud reporting to bank security authorities
x SignedApproval™ Instant chargeback fraud reporting to bank security authorities
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x SignedApproval™ Instant chargeback fraud reporting to bank security authorities
